New beginning for Think EV car maker

A court-appointed trustee has selected Russian entrepreneur Boris G. Zingarevich, whose investment operations are based in St. Petersburg, Russia, as the winning bidder for Think Global electric vehicle manufacturer, following a bankruptcy proceeding initiated by the Norwegian carmaker last month. In addition, Zingarevich has signed a memorandum of understanding with American advanced lithium-ion battery maker Ener1, and Finnish automobile engineering and manufacturing concern Valmet Automotive, to cooperat
April 19, 2012 Read time: 2 mins
RSSA court-appointed trustee has selected Russian entrepreneur Boris G. Zingarevich, whose investment operations are based in St. Petersburg, Russia, as the winning bidder for Think Global electric vehicle manufacturer, following a bankruptcy proceeding initiated by the Norwegian carmaker last month. In addition, Zingarevich has signed a memorandum of understanding with American advanced lithium-ion battery maker Ener1, and Finnish automobile engineering and manufacturing concern Valmet Automotive, to cooperate in relaunching Think.

"Having achieved the position of one of the world's most highly regarded electric vehicle products, the Think brand is a valuable asset that deserves to continue its key role in the global shift to electrification," said  Zingarevich.  "With the potential of working with the leading American automotive lithium-ion battery maker and Europe's top automobile engineering and manufacturing company, I believe we could have exactly the right combination and value chain to ensure that the brand will be increasingly competitive in the worldwide electric vehicle market."

The assets of wholly owned subsidiaries Think North America and Think UK, which have remained going concerns during the bankruptcy proceeding for Think Global, were also acquired in the transaction.

Over its 20-year history, Think achieved the status of the leading dedicated electric vehicle maker in the world.  The Think City has accumulated more than 48 million km of road experience in the several countries where it has been marketed.  The current model has a range of 160 km on a single charge.

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